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04/01/2014

ICBA Launches Community Banking Month with D.C. Ad Blitz

ICBA NewsWatch Today 04/01/2014

Go LocalICBA Launches Community Banking Month with D.C. Ad BlitzICBA kicked off Community Banking Month with a Washington, D.C.-area promotional blitz encouraging consumers and policymakers to consider the importance of community banks to local economies. Ads running on D.C. buses, trains and a key Capitol Hill Metro station spread the community bank message and encourage consumers to find a community bank on ICBA’s Community Bank Locator. The ads will run through the ICBA Washington Policy Summit, slated for April 29-May 2 in the nation’s capital. ICBA also continues to help community bankers celebrate Community Banking Month with customizable marketing and communications resources. The association is offering members a Community Banking Month Marketing and Communications Toolkit, which includes four customizable news releases, an op-ed, marketing ideas, and sample social media posts and graphics that community banks can use in their communities. ICBA encourages members to use these turnkey custom resources throughout the month of April. Community bankers also can tweet with the #BankLocally hashtag and share their photos with ICBA on Facebook. ICBA will share community bank posts and showcase their celebrations across the nation. Access ICBA Community Banking Month Toolkit.AdvocacySee for Yourself at Washington Policy SummitCommunity bankers who attend the ICBA Washington Policy Summit this month will have a chance to view the association’s D.C. ad blitz firsthand. ICBA’s grassroots advocacy event slated for April 29-May 2 will feature face-to-face meetings with policymakers and remarks from Federal Reserve Chair Janet Yellen, FDIC Chairman Martin Gruenberg and Senate Banking Committee members Bob Corker (R-Tenn.) and Heidi Heitkamp (D-N.D.). Registration for the summit is free for community bankers and a spouse or guest. Visit ICBA’s Washington Policy Summit webpage to register today and make sure your voice is being heard in Washington. Register Today.RegulationFine: Consolidation, Regulation Twin Challenges Facing Community BanksAddressing the twin challenges of banking consolidation and excessive regulation is essential to ensuring a future for the nation’s community banking system, ICBA President and CEO Cam Fine said. Speaking at a Boston University conference on the 150th anniversary of the Office of the Comptroller of the Currency, Fine said that policymakers must ensure their regulations nurture the unique strengths of the community bank model instead of squeezing these institutions into a one-size-fits-all regime. Fine noted that the continued concentration of banking assets in the hands of the largest banks risks the loss of availability of banking services in small and rural communities. “How our nation's community banks fare in the future will have a significant impact on not just our banking system, but also on our culture, our economy, consumers and the vitality of thousands of smaller communities and rural areas across the country,” he said. Read ICBA Release.Too-Big-To-FailIMF: Too-Big-To-Fail Subsidy Totals $70B in 2012The implicit subsidy given to too-big-to-fail financial institutions represented up to $70 billion in the United States and up to $300 billion in the euro area in 2012, according to a new International Monetary Fund report. The IMF said reforms implemented since the global financial crisis have reduced, but not eliminated, the implicit government subsidy for systemically risky institutions. The IMF said the too-big-to-fail issue has intensified in the wake of the financial crisis because the crisis left little uncertainty about the willingness of governments to support big banks in distress and because banks have continued to grow bigger in a consolidating industry. According to the report, the implicit subsidy distorts competition among banks, can favor excessive risk-taking and may ultimately entail large costs for taxpayers. Read More from the IMF.ICBA NewsWatch Today is sponsored by QR Lending:You too can take advantage of profitable opportunities in the housing market. With an expert partner, your bank can run a profitable, compliant and service-oriented mortgage operation – no hassles. Call 888.766.4734 and ask about the benefits of your own Dedicated Loan Coordinator. Or register for a webinar on April 17th at 2:00pm ET. Equal Housing Lender.Federal ReserveSenators Urge President to Consider Fed Nominee with Community Bank ExperienceTwo members of the Senate Banking Committee called on President Barack Obama to consider for the Federal Reserve Board a nominee with a background in community banking or community bank supervision. The letter to the president from Sens. Pat Toomey (R-Pa.) and Mark Warner (D-Va.) follows recent ICBA letters to Obama and senators pressing for a nominee with such experience. Toomey and Warner noted that community banks play a critical role in serving Americans and that the Fed traditionally has had a member with experience with community banks.RegulationYellen: Fed Serves Main Street, Not Wall StreetThe Federal Reserve’s goal is to help Main Street, not Wall Street, Federal Reserve Chair Janet Yellen said. Speaking at the National Interagency Community Reinvestment Conference in Chicago, Yellen said the Fed’s extraordinary commitment to help the nation recover from the Great Recession will be needed “for some time.” She said recent steps to reduce the rate of new securities purchases are not a lessening of this commitment, but a judgment that aid for the recovery need not grow as quickly.RegulationCFPB Releases Small Entity Guide for RESPA-TILA RuleThe Consumer Financial Protection Bureau released a Small Entity Compliance Guide for the TILA-RESPA Integrated Disclosure Rule. The guide is designed to help small entities determine their federal mortgage disclosure compliance obligations for the mortgage loans they originate. The TILA-RESPA rule, issued in November 2013, is effective Aug. 1, 2015.CongressWays and Means Chairman Camp Not Running for ReelectionHouse Ways and Means Chairman Dave Camp (R-Mich.) announced that he will not run for reelection in November. Camp has served in the House since 1991 and recently released a draft legislative proposal to reform the federal tax code.PollTake This Week’s Quick PollTake this week’s Quick Poll on celebrating Community Banking Month, and view results from the previous poll. View the Archive.EducationStrategic Financial Planning Webinar Next WeekAn upcoming ICBA webinar featuring economist and former commercial banker Tom Parliament will review the strategic financial planning process and help community bankers develop an approach that will work for their community bank. Parliament also will examine a host of competitive lending strategies and offer suggestions to improve the ALCO process. “The Catalyst for Thinking ‘Outside the Box’” is scheduled for 11 a.m. (Eastern time) Tuesday, April 8. Register Online.Products and ServicesWebinar: Quarterly Briefing on Addressing Regulatory ChangesContinuity Control, ICBA’s new Preferred Service Provider, is hosting a free webinar at 1 p.m. (Eastern time) Thursday, April 10, titled “RegAdvisor Quarterly Regulatory Compliance Briefing.” The briefing will explain the details of first-quarter 2014 regulatory changes. This session is intended to clarify the compliance requirements, deadlines and estimated workload needed to comply. Register Now.